During the Christmas holiday, institutions exited, resulting in a net outflow of $782 million from spot Bitcoin ETFs

Data shows that during the Christmas week, U.S. listed spot Bitcoin ETFs experienced a massive outflow of funds, with a cumulative net outflow of approximately $782 million. Among them, the single-day net outflow on Friday reached $276 million, marking the peak outflow during the holiday.

Specifically, BlackRock's IBIT saw a single-day outflow of nearly $193 million, Fidelity's FBTC had an outflow of about $74 million, while Grayscale's GBTC continued to experience small but persistent fund redemptions. As a result, the total asset size of Bitcoin spot ETFs dropped to about $113.5 billion, down from over $120 billion earlier in December.

It is noteworthy that despite the outflow of funds, the price of Bitcoin remained around $87,000, indicating that this withdrawal of funds is more likely due to year-end asset rebalancing and decreased holiday liquidity, rather than market panic.

Analysis indicates that this marks the sixth consecutive trading day of net outflows for spot Bitcoin ETFs, with a cumulative outflow exceeding $1.1 billion, representing the longest outflow period since this fall. However, institutional insiders believe that holiday outflows are not uncommon, and as trading resumes in January, institutional funds may flow back in, making the direction of ETF funds more meaningful at that time.